An investor places $9,700.00 in an account that pays 8.00% per year. The investor is interested in the account balanceover the next few years. Specifically, he wants to know the balance for the following milestones:MILESTONE:MILESTONE 1:MILESTONE 2:MILESTONE 3:Years3.00 years7.00 years11.00 yearsWhat is the balance after Milestone 1?SubmitAnswer format: Currency: Round to: 2 decimal places.Show HintAn investor places $9,700.00 in an account that pays.8.00% per year. The investor is interested in the account balanceover the next few years. Specifically, he wants to know the balance for the following milestones:MILESTONE:MILESTONE 1:MILESTONE 2:MILESTONE 3:What is the balance after Milestone 2?SubmitAnswer format: Currency: Round to: 2 decimal places.Years3.00 years7.00 years11.00 years

Step 1: Understanding the Compound Interest FormulaWe are using the compound interest formula, which…

Answered: An investor places $9,700.00 in an…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 8EA: You put $250 in the bank for S years at 12%. A. If interest is added at the end of the year, how...

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Suppose you deposit $1,030.00 into an account 4.00 years from today. Exactly 13.00 years from today the account is worth $1,677.00. What was the account's interest rate? Submit Answer format: Percentage Round to: 3 decimal places (Example: 9.243%, % sign required. Will accept decimal format rounded to 5 decimal places (ex: 0.09243)) Show Hint
Suppose you deposit $1,016.00 into an account 4.00 years from today. Exactly 13.00 years from today the account is worth $1,741.00. What was the account's interest rate? Submit Answer format: Percentage Round to 3 decimal places (Example: 9.243%, % sign required. Will accept decimal format rounded to 5 decimal places (ex. 0.09243))
I will give you upvote give me answer with calculations
Suppose you deposit $ 1296 today and your account will accumulate to $ 5637 in 9 years. What is the rate of interest? Input your answer in decimals, not percentages. Round your answer to four decimals places.
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The balance of an interest-bearing account can be modeled by an exponential equation. For example, consider an initial deposit of $10000 at an annual interest rate of 5%. The interest earned each year is deposited into the account at the end of the year. A. Assuming that no withdrawals or deposits are made, write an equation that models the account balance after x years. Your answer B. What is the account balance at the end of the 7 years? Your answer C. Create a graph that shows the increase in the account balance over the next 15 years, including your initial deposit. Your answer D. Using the graph, estimate how many years it will take for the initial deposit to double. Your answer E. If you deposited $5000O in an account of this type, what would the account balance be when you are 50 years old assuming that you are 20 years of age right now? Your answer OCT 16
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Tab Window Hélp sponse The balance of an interest-bearing account can be modeled by an exponential equation. For example, consider an initial deposit of $2000 at an annual interest rate of 6%. The interest earned each year is deposited into the account at the end of the year. A. Assuming that no withdrawals or deposits are made, write an equation that models the account balance after x years. Your answer B. What is the account balance at the end of the 10 years? Your answer C. Create a graph that shows the increase in the account balance over the next 20 years, including your initial deposit. Your answer D. Using the graph, estimate how many years it will take for the initial deposit to double. Your answer E. If you deposited $2000 in an account of this type, what would the account balance be when you are 45 years old assuming that you are 18 years of age right now?

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